The European Central Bank (ECB) will withdraw up to €150 billion from the overnight euro zone money market today as it seeks to keep short-term rates close to its 4 per cent benchmark rate.
The ECB said that banks would have the opportunity to deposit funds at a fixed rate of 4 per cent in the operation, which settles later in the day and will mature tomorrow.
Banks deposited €133.6 billion overnight with the ECB at 4 per cent in a similar operation yesterday.
